At SESLOC, we believe that homeownership shouldn’t be a dream put off for someday. That’s why we’re continually innovating to make buying a home accessible. With our latest home loan option, we’re opening a new pathway for qualified first-time homebuyers.
The SESLOC First-Time Homebuyer Mortgage1 is designed for those purchasing their first home, or who have not owned a home in the past three years. This program features 100% financing and no private mortgage insurance (PMI) for qualified borrowers. You may qualify for the SESLOC First-Time Homebuyer Mortgage1 if:
- You live, work, or go to school in SESLOC’s nine-county field of membership: San Luis Obispo, Santa Barbara, Santa Cruz, Monterey, Fresno, Tulare, Kinds, and Kern counties.
- You are purchasing one of the following in California: A single-family residence, condominium, townhome, manufactured home, a planned unit development (PUD), or need a lot/land loan less than 10 acres.
- You can complete a free and informative First Time Homebuyer Education course prior to closing.
The SESLOC First-Time Homebuyer Mortgage1 is available as a 30-year fixed rate mortgage, giving you the advantage and security of knowing your rate won’t change throughout the life of your loan. It’s also complemented by other programs available through the credit union, including our 15-Day Mortgage Close Option.
With the advantages of fast pre-approval, an accessible mortgage and options for closing, you can be confident in a competitive marketplace. Plus, you will have the backing of a credit union with over 80 years of experience guiding you every step of the way, guided by the principle of “People Helping People.” We’re behind you from the first time you contact us to the moment you get the keys to your home.
This is just one of the mortgage products available to you through SESLOC Credit Union. If you aren’t a first-time homebuyer, you may qualify for other special home loan options, including loans with as little as 3% down, or special programs for School Employees, First Responders and Cal Poly Faculty & Staff. No matter where you are in life, our team is proud to stand with you as you prepare for your next life investment.
In addition to offering competitive home loan options, SESLOC is committed to providing financial education for all new homeowners. From our News+ educational website and mortgage calculator to in-person seminars for local employers and organizations, we’re here to help you make the most educated decisions. We also periodically offer home buying seminars at our San Luis Obispo headquarters, putting you directly in touch with the field experts.
Some of the educational topics available on our website include:
- Mortgage Pre-Approval: Your Key to Successful Home Buying
- How to Set Homeownership Savings Goals
- How Much Money Do I Have to Put Down to Buy a House?
- Five Steps to Prepare for a Mortgage
- How Much House Can You Afford?
Ready to get started? Contact our Mortgage Loan Officers today to learn more about this and all of our homebuyer programs to take the first step towards owning your home.